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Old 08-20-2008, 05:09 PM
 
Location: Katy,TX.
4,244 posts, read 8,756,463 times
Reputation: 4014

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Back in may Harris co. tried to rip me off and appraise my home at 260k plus, I bought the home for 220k last year . I filed a protest online and they finally got back to me with an offer of 220k.

I thought Harris co. normally set the first appraisal less then what we paid? Should I accept this or should I decline and ask for a formal hearing?

I'm sure they are going to run it up next year so I'm guessing I may as well fight for every little penny I can save .

Do you think by going to a formal hearing I'll be taking a chance of getting the shaft(losing the 220k and getting something higher)?

thanks in advance for the input, it's greatly appreciated.
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Old 08-20-2008, 05:16 PM
 
Location: Spring, Texas
410 posts, read 1,681,877 times
Reputation: 164
Quote:
Originally Posted by usc619 View Post
Back in may Harris co. tried to rip me off and appraise my home at 260k plus, I bought the home for 220k last year . I filed a protest online and they finally got back to me with an offer of 220k.

I thought Harris co. normally set the first appraisal less then what we paid? Should I accept this or should I decline and ask for a formal hearing?

I'm sure they are going to run it up next year so I'm guessing I may as well fight for every little penny I can save .

Do you think by going to a formal hearing I'll be taking a chance of getting the shaft(losing the 220k and getting something higher)?



thanks in advance for the input, it's greatly appreciated.

Take the $220k and run..I got shafted when I did the formal protest. Ended up with a three person board who didn't like my comps...lol
and... with a value several thousand above what the initial rep was willing to give me on the front end... Ouch...Sunny
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Old 08-20-2008, 06:39 PM
 
Location: Houston
57 posts, read 414,474 times
Reputation: 31
If you bought a house recently, getting it brought down to purchase price is easy. Getting it brought down BELOW purchase price will be trickier.

Every neighborhood is different. Some neighborhoods have appraisals somewhat below sales prices. Others are actually much closer to sales price. Our neighborhood was VERY CLOSE for many years. Sales prices are starting to exceed appraised numbers lately, for some reason.

I agree with Sunny - take their offer and run.
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Old 08-20-2008, 06:50 PM
 
Location: Spring, Texas
410 posts, read 1,681,877 times
Reputation: 164
Quote:
Originally Posted by hammer2000 View Post
If you bought a house recently, getting it brought down to purchase price is easy. Getting it brought down BELOW purchase price will be trickier.

Every neighborhood is different. Some neighborhoods have appraisals somewhat below sales prices. Others are actually much closer to sales price. Our neighborhood was VERY CLOSE for many years. Sales prices are starting to exceed appraised numbers lately, for some reason.

I agree with Sunny - take their offer and run.
Hammer...even with supportive data your subject to the board understanding it...twiddle, dee & dump... not the brightest bulbs in the pack

Sunny
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Old 08-20-2008, 07:20 PM
 
Location: Houston, TX (Bellaire)
4,900 posts, read 13,730,475 times
Reputation: 4190
Seems like it would be hard to argue that your house is worth less than what you just paid for it...
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Old 08-20-2008, 08:22 PM
 
Location: Houston
57 posts, read 414,474 times
Reputation: 31
Quote:
Originally Posted by sunny57 View Post
Hammer...even with supportive data your subject to the board understanding it...twiddle, dee & dump... not the brightest bulbs in the pack

Sunny
I have appeared before the board twice to protest my appraised value. The first time they were very understanding. They asked pertinent questions, they made insightful comments, and they made a reasonable (though not stellar) adjustment.

The second time I got nothing but three blank faces. They looked at the Appriasal District employee in the room, asked him what to do, then did what he told them.

I hired the share-the-savings pros this year, with pretty good results.
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Old 08-21-2008, 10:34 AM
 
1,290 posts, read 5,436,005 times
Reputation: 724
Take the offer, then protest again next year, and every year after that.
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Old 08-21-2008, 11:00 AM
 
2,068 posts, read 4,335,270 times
Reputation: 1992
Quote:
Originally Posted by chris_ut View Post
Seems like it would be hard to argue that your house is worth less than what you just paid for it...
My thoughts exactly.

Some people...

Maybe negotiations just did not go in his favor...
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Old 08-22-2008, 09:04 AM
 
Location: Katy,TX.
4,244 posts, read 8,756,463 times
Reputation: 4014
Just wanted to say thanks to those who replied, I'm going to wait until the end of the month before I make a decision.


FIGHT ON!
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Old 08-22-2008, 09:12 AM
 
448 posts, read 1,587,661 times
Reputation: 124
Same thing here, I am scheduled to go next week, I bought the house for 188k and its appraised at 179k, i guess I should leave it alone huh?
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